Mueller Industries Raises Dividend 33%

Mueller Industries Inc. said Friday it will raise its quarterly dividend 33% to 10 cents a share. The industrial manufacturer's new dividend will by payable June 15 to shareholders of record on June 1. Based on Thursday's closing price of $30.28 for Mueller's stock, the new dividend implies an annual dividend yield of 1.3%, compared with an aggregate dividend yield for the S&P 500 of 2.2%, according to FactSet. The stock, which was still inactive in premarket trade, has climbed 12% year to date, while the S&P 500 has edged up 0.3%.